Core Viewpoint - The Guangzhou Futures Exchange (GFEX) is positioning itself as China's first futures exchange focused on supporting green development, with significant advancements in its product system and services for the green low-carbon transition [1][4]. Group 1: Product Development and Market Impact - GFEX has accelerated its layout around the new energy industry chain, establishing a futures system that includes key products such as industrial silicon, lithium carbonate, and polysilicon, enhancing market functions and price influence [1][2]. - The exchange has launched futures and options for industrial silicon, lithium carbonate, and polysilicon, achieving a steady increase in trading volume and open interest, with daily trading volumes exceeding 300,000 contracts for these products [1][2]. - The correlation between futures and spot prices is high, with industrial silicon and lithium carbonate showing a correlation of 0.99, and polysilicon at 0.94, indicating that futures listings have stabilized industry prices [2]. Group 2: New Product Launches - GFEX announced that platinum and palladium futures and options have been approved and will be launched on November 27, which are crucial for green industries such as automotive emissions control and renewable energy [2]. - Approximately 60% of platinum and nearly 80% of palladium in China are used in automotive catalytic converters, highlighting the stable market demand and price sensitivity of these materials [2]. Group 3: International Influence and Participation - GFEX's products, particularly lithium carbonate futures, have gained international recognition, becoming the largest and most liquid lithium salt product globally, with some international trade companies using GFEX prices as a key pricing benchmark [3]. - The exchange has established regular communication with over 10 foreign exchanges and has introduced qualified foreign institutional investors for its listed products [3]. Group 4: Future Plans and Strategic Directions - GFEX has outlined three key focus areas for the "14th Five-Year Plan" period and future green transition needs: enhancing the product system, strengthening market services and training, and promoting high-level openness to foreign investors [4]. - The exchange aims to develop futures and options for lithium hydroxide, deepen its involvement in the photovoltaic, wind power, and energy storage sectors, and explore the development of carbon emission rights futures [4]. - GFEX is committed to supporting green development, the Guangdong-Hong Kong-Macao Greater Bay Area construction, and the Belt and Road Initiative, emphasizing its role in price discovery, risk management, and resource allocation [4].
广州期货交易所党委委员、副总经理李慕春： 丰富完善品种体系推进氢氧化锂期货及期权研发上市
Zheng Quan Shi Bao·2025-11-23 23:02